Market Whirlwind: From Rate Cuts to Record Highs

October ends with uncertainty in global monetary policies, as a U.S.-China trade truce and mixed mega-cap earnings calm market nerves. The Federal Reserve's rate cut and a soaring dollar contrast with a declining yen. AI-driven enthusiasm boosts the Nikkei and South Korea's Kospi, with tech stocks led by Amazon and Apple performing well.

October concludes with a whirlwind in global markets, casting uncertainty over monetary policy directions. Investors grapple with mixed signals from a U.S.-China trade truce and disparate mega-cap earnings results, all while the Federal Reserve concludes its latest rate cut. The dollar continues its upward march, gaining strength as the yen faces turbulence, remaining at its lowest since February. Meanwhile, euro zone inflation and Germany's retail figures loom significantly over Friday's economic events.

Asian markets see dynamic shifts, with the yen's plummet benefiting Japan's Nikkei, which reaches a record high, marking its strongest monthly performance since 1994. South Korea's Kospi outperforms global stock markets for the year, driven by optimism surrounding artificial intelligence's economic impact, with October projected to be its best surge since 2001.

On Wall Street, tech stocks witness a Halloween rally, spearheaded by Amazon's soaring shares, bolstered by rapid cloud revenue growth. Businesses invest heavily in AI software, signaling potential earnings growth. Attention also turns to Apple, following its impressive holiday revenue forecasts, suggesting continued tech sector momentum.

(With inputs from agencies.)